BlackRock has launched a new Ethereum investment product that gives investors direct exposure to Ether and income from staking.
The new fund, the iShares Staked Ethereum Trust ETF, will trade on Nasdaq. It is designed to track the price of Ether while also generating staking rewards from part of the fund’s holdings.
BlackRock said the product gives investors a new way to gain access to Ethereum and earn yield in a regulated exchange-traded fund.
The ETF will use Coinbase as both custodian and staking provider. Staking rewards are expected to be paid monthly, or at least once every quarter.
At launch, the fund carries a 0.25% fee, but BlackRock will lower that to 0.12% for the first $2.5 billion in assets during the first year.
Featured image from: cointelegraph.com